2025-02-25
I chose three indicators to analyze from the World Development Indicators (WDI) dataset:
These indicators are respectively considered measures of economic stability, health, and economic prosperity.
The distribution of our key economic and health indicators across 217 countries in 2022:
Summary statistics for our indicator variables:
| Mean | Standard Deviation | Min | 25th Percentile | Median | 75th Percentile | Max | |
|---|---|---|---|---|---|---|---|
| Inflation Rate (%) | 12.4939 | 19.6824 | -6.68732 | 5.51813 | 7.96757 | 11.6656 | 171.205 |
| Life Expectancy (Years) | 72.4165 | 7.71332 | 52.997 | 66.782 | 73.5146 | 78.475 | 85.377 |
| GDP per Capita (USD) | 20345.7 | 31308.9 | 259.025 | 2570.56 | 7587.59 | 25982.6 | 240862 |
The histogram for Inflation Rate had a right-skewed distribution, showing that most countries have inflation rates below 15%. The range of values goes from -6.69% (deflation) to 171.2% (hyperinflation).
Let’s take a closer look at the number of countries in each inflation category.
As we see in the figure below, the highest number of countries are in the “Elevated Inflation” category:
So what are the relationships between these indicators? Is there a relationship between GDP per Capita (economic prosperity) and life expectancy (overall population health)? Let’s see.
Key Insights:
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